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Markets Push Higher While Omeros Soars on FDA Approval

MarketDash Editorial Team
1 day ago
U.S. stocks climbed midweek with the Dow up over 200 points, while Omeros jumped 68% on FDA approval for its transplant treatment. Gold dipped slightly as jobless claims came in better than expected, signaling continued labor market strength.

U.S. markets found their footing midweek, with major indices climbing higher as the Dow Jones surged more than 200 points on Wednesday. The gains came alongside encouraging labor market data and continued momentum in consumer staples, though communication services lagged behind.

The Dow traded up 0.48% to 48,673.55, while the NASDAQ rose a modest 0.09% to 23,582.81. The S&P 500 also advanced, gaining 0.25% to 6,927.29 as investors digested fresh economic data and individual stock movements.

Sector Performance Mixed Across the Board

Consumer staples led the way on Wednesday, climbing 0.7% as defensive plays attracted investor interest. On the flip side, communication services stocks slipped 0.1%, dragging on overall market performance.

Labor Market Shows Continued Strength

U.S. initial jobless claims declined by 10,000 from the previous week to 214,000 in the week ending December 20. The reading came in well below market estimates of 223,000, reinforcing the narrative that the labor market remains resilient despite economic uncertainties.

Big Movers on the Upside

Edgewise Therapeutics Inc (EWTX) shares shot up 21% to $26.36 after the company shared updates from its ongoing CIRRUS-HCM Phase 2 trial of EDG-7500. The biotech stock rallied on positive trial data that caught investor attention.

Shares of Multi Ways Holdings Ltd (MWG) got a boost, surging 62% to $0.41 after the company reported a year-over-year increase in its first-half EPS results. The earnings beat sent the stock soaring as investors reassessed the company's trajectory.

Omeros Corp (OMER) shares were also up substantially, gaining 68% to $14.72 after the FDA approved YARTEMLEA to treat hematopoietic stem cell transplant-associated thrombotic microangiopathy. The approval represents a significant milestone for the biotech company and opens up a new treatment avenue for a serious condition.

Notable Decliners

Hycroft Mining Holding Corporation (HYMC) shares dropped 10% to $24.56, retreating from a rally that saw the stock hit a new 52-week high on Tuesday. The volatility follows a collision of record-breaking commodity tailwinds and a major divestiture by high-profile backer AMC Entertainment Holdings Inc (AMC).

Shares of Citius Pharmaceuticals Inc (CTXR) were down 24% to $0.80, despite the company reporting better-than-expected earnings for the fourth quarter. Sometimes even good news isn't enough when investor expectations run ahead of reality.

SMX (Security Matters) PLC (SMX) was down, falling 9% to $135.00 as the stock gave back recent gains.

Commodities Retreat Slightly

In commodity news, oil traded down 0.2% to $58.28 while gold traded down 0.3% to $4,493.50. Both precious metals and energy pulled back slightly after recent strength.

Silver traded down 0.2% to $71.00 on Wednesday, while copper bucked the trend and rose 0.2% to $5.5640.

European and Asian Markets

European shares were mixed on Wednesday. The eurozone's STOXX 600 gained 0.1%, while Spain's IBEX 35 Index fell 0.06%. London's FTSE 100 fell 0.19%, Germany's DAX 40 rose 0.23%, and France's CAC 40 slipped 0.01% during the session.

Asian markets closed mixed as well, with Japan's Nikkei 225 falling 0.14%, Hong Kong's Hang Seng gaining 0.17%, China's Shanghai Composite rising 0.53%, and India's BSE Sensex falling 0.14%.

Back to Stock Market News

Markets Push Higher While Omeros Soars on FDA Approval

MarketDash Editorial Team
1 day ago
U.S. stocks climbed midweek with the Dow up over 200 points, while Omeros jumped 68% on FDA approval for its transplant treatment. Gold dipped slightly as jobless claims came in better than expected, signaling continued labor market strength.

U.S. markets found their footing midweek, with major indices climbing higher as the Dow Jones surged more than 200 points on Wednesday. The gains came alongside encouraging labor market data and continued momentum in consumer staples, though communication services lagged behind.

The Dow traded up 0.48% to 48,673.55, while the NASDAQ rose a modest 0.09% to 23,582.81. The S&P 500 also advanced, gaining 0.25% to 6,927.29 as investors digested fresh economic data and individual stock movements.

Sector Performance Mixed Across the Board

Consumer staples led the way on Wednesday, climbing 0.7% as defensive plays attracted investor interest. On the flip side, communication services stocks slipped 0.1%, dragging on overall market performance.

Labor Market Shows Continued Strength

U.S. initial jobless claims declined by 10,000 from the previous week to 214,000 in the week ending December 20. The reading came in well below market estimates of 223,000, reinforcing the narrative that the labor market remains resilient despite economic uncertainties.

Big Movers on the Upside

Edgewise Therapeutics Inc (EWTX) shares shot up 21% to $26.36 after the company shared updates from its ongoing CIRRUS-HCM Phase 2 trial of EDG-7500. The biotech stock rallied on positive trial data that caught investor attention.

Shares of Multi Ways Holdings Ltd (MWG) got a boost, surging 62% to $0.41 after the company reported a year-over-year increase in its first-half EPS results. The earnings beat sent the stock soaring as investors reassessed the company's trajectory.

Omeros Corp (OMER) shares were also up substantially, gaining 68% to $14.72 after the FDA approved YARTEMLEA to treat hematopoietic stem cell transplant-associated thrombotic microangiopathy. The approval represents a significant milestone for the biotech company and opens up a new treatment avenue for a serious condition.

Notable Decliners

Hycroft Mining Holding Corporation (HYMC) shares dropped 10% to $24.56, retreating from a rally that saw the stock hit a new 52-week high on Tuesday. The volatility follows a collision of record-breaking commodity tailwinds and a major divestiture by high-profile backer AMC Entertainment Holdings Inc (AMC).

Shares of Citius Pharmaceuticals Inc (CTXR) were down 24% to $0.80, despite the company reporting better-than-expected earnings for the fourth quarter. Sometimes even good news isn't enough when investor expectations run ahead of reality.

SMX (Security Matters) PLC (SMX) was down, falling 9% to $135.00 as the stock gave back recent gains.

Commodities Retreat Slightly

In commodity news, oil traded down 0.2% to $58.28 while gold traded down 0.3% to $4,493.50. Both precious metals and energy pulled back slightly after recent strength.

Silver traded down 0.2% to $71.00 on Wednesday, while copper bucked the trend and rose 0.2% to $5.5640.

European and Asian Markets

European shares were mixed on Wednesday. The eurozone's STOXX 600 gained 0.1%, while Spain's IBEX 35 Index fell 0.06%. London's FTSE 100 fell 0.19%, Germany's DAX 40 rose 0.23%, and France's CAC 40 slipped 0.01% during the session.

Asian markets closed mixed as well, with Japan's Nikkei 225 falling 0.14%, Hong Kong's Hang Seng gaining 0.17%, China's Shanghai Composite rising 0.53%, and India's BSE Sensex falling 0.14%.